As part of company’s aggressive expansion plan, Delhi-based discount retailer Vishal Retail has opened one more store of its apparel retail format Vishal Fashionmart in Punjab. With this new launch, the company has now a total of 181 stores in 24 states across 107 cities in India spreading across a retail space 29,80,900 square feet approx.
Spread across 1,400 square feet, the store offers apparels and accessories for all age groups at affordable prices, said Vishal Retail in a statement to Bombay Stock Exchange.
Earlier this month, Vishal Retail also launched a franchise store of same format in Mirzapur district of Uttar Pradesh.
Further, the company posted a turnover of over Rs 2,884 million and Rs 6,026 million in financial years 2006 and 2007 respectively. Meanwhile, the company has posted a net profit of Rs 40.76 million by the quarter ended September 30, 2008, and plans to increase the number of stores to 200 in the next three months.
— Sarimul Islam Choudhury